Which way is Maryland Real Estate turning? Are we in a buyers market
or
Are we in a Sellers Market?
I believe in Prince George's County Maryland we are in a sellers market we are experiencing a Low Supply of homes with a greater demand for the homes. You are seeing homes sell fairly quickly with multiple offers on them. That is why if you are buying you need a Realtor who knows the local market. Many times you hear a Real Estate Agent always say " Now is a great time to buy or sell" , Well that is definitely the case.
Even-though we are experiencing a sellers market , interest rates are still at a record low and government grants are still available to assist in making that dream of home-ownership a reality. So if you are looking to buy or sell a home you want to make sure of the following...
Buyers
1) Have a approval from Lender, you have to have this to play the game. There is no time to waste trying to get approved these homes are ready to go with the buyers who is ready to go.
2) Strong Earnest Money amount this is where you are able to show your commitment to purchasing the home.
3) Don't have too many contingencies, example low price, can't settle for months, on top all closing cost, be ready to close!
So many buyers have had to learn the hard way by asking for so much, stay in the game and be prepared !!
Sellers
1) Price the home correctly, have agent pull comps and trends.
2) Make whatever changes your agent has requested that can be made in order to maximize on the sale.
Many times sellers loose out because they have priced there homes too high and have wasted time and buyers!
When buying or selling have a plan decide what is most important in your negotiations. Good Luck! and Happy House Hunting or Selling.
For more information on winning the game of homeownership in Maryland or to Sell your home for top dollar, please give me a call to and lets get your home sold or purchased! Look forward to hearing from you!
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